Budget 2024: Check Anil Singhvi's view on Interim Budget

Budget 2024: Finance Minister Nirmala Sitharaman on Thursday presented the Interim Budget ahead of the Lok Sabha elections, slated for later this year. Sitharaman did not announce any changes in tax rates for direct and indirect taxes. However, she proposed to increase capital expenditure outlay by 11.1 per cent to Rs 11.11 lakh crore in 2024-25. 

Commenting on the Interim Budget, Zee Business Managing Editor Anil Singhvi said that the Interim Budget is largely neutral and slightly on the positive side for the market.

"We discussed five things ahead of the budget and out of those, four has been considered by the Finance Minister Nirmala Sitharaman," Singhvi said.

Earlier in the day, Zee Business said that five things should be there to make it a good Interim Budget.  

- Don't make any changes and let how things are functioning.

- The government should control the financial deficit.

- The government should focus on Capex.

- Give income tax concessions to the middle class.

- Do not increase tax on investors.

While the government has proposed to increase capital expenditure outlay by 11.1 per cent to Rs 11.11 lakh crore in 2024-25, the fiscal deficit target for 2024-25 has been pegged at 5.1 per cent of gross domestic product (GDP). 

The central government neither tweaked nor raised tax burden on citizens.

"As for tax proposals, in keeping with the convention, I do not propose to make any changes relating to taxation and propose to retain the same tax rates for direct taxes and indirect taxes including import duties," said Sitharaman.

"However, certain tax benefits to start-ups and investments made by sovereign wealth or pension funds as also tax exemption on certain income of some IFSC units are expiring on 31.03.2024. To provide continuity in taxation, I propose to extend the date to 31.03.2025."

The government proposed to increase capital expenditure outlay by 11.1 per cent to Rs 11.11 lakh crore in 2024-25.